This script has been deprecated and should not be used. No update is forthcoming.
The Source:
var textString = new Array();
textString[0] = "More goofy text effects with javascript and css.";
textString[1] = "This one is a fading marquee.";
textString[2] = "It fades from white to black, then from black to white.";
textString[3] = "Only this time it does the characters in the string individually.";
textString[4] = "It works in IE and Gecko/Moz"
textString[5] = "Results in a nice effect, dont you think?";
var mIndex = 0;
var zColor = new Array();
var zTrack = 0;
var direction = 0;

//constants
var STEP = 5;
var FADE_INTERVAL = 10;

var hexValues = new Array('00','01','02','03','04','05','06','07','08','09','0A','0B','0C','0D','0E','0F','10','11','12','13','14','15','16','17','18','19','1A','1B','1C','1D','1E','1F','20','21','22','23','24','25','26','27','28','29','2A','2B','2C','2D','2E','2F','30','31','32','33','34','35','36','37','38','39','3A','3B','3C','3D','3E','3F','40','41','42','43','44','45','46','47','48','49','4A','4B','4C','4D','4E','4F','50','51','52','53','54','55','56','57','58','59','5A','5B','5C','5D','5E','5F','60','61','62','63','64','65','66','67','68','69','6A','6B','6C','6D','6E','6F','70','71','72','73','74','75','76','77','78','79','7A','7B','7C','7D','7E','7F','80','81','82','83','84','85','86','87','88','89','8A','8B','8C','8D','8E','8F','90','91','92','93','94','95','96','97','98','99','9A','9B','9C','9D','9E','9F','A0','A1','A2','A3','A4','A5','A6','A7','A8','A9','AA','AB','AC','AD','AE','AF','B0','B1','B2','B3','B4','B5','B6','B7','B8','B9','BA','BB','BC','BD','BE','BF','C0','C1','C2','C3','C4','C5','C6','C7','C8','C9','CA','CB','CC','CD','CE','CF','D0','D1','D2','D3','D4','D5','D6','D7','D8','D9','DA','DB','DC','DD','DE','DF','E0','E1','E2','E3','E4','E5','E6','E7','E8','E9','EA','EB','EC','ED','EE','EF','F0','F1','F2','F3','F4','F5','F6','F7','F8','F9','FA','FB','FC','FD','FE','FF');

function init() {
	initZColor();
	nInterval = setInterval("runFade()",FADE_INTERVAL);
}

function initZColor() {
	for(i=0;i<textString.length;i++) {
		zColor[i] = new Array();
		for(y=0;y<textString[i].length;y++) zColor[i][y] = 255;
	}
}

function runFade() {
	mHTML = "";
	for(i=0;i<textString[mIndex].length;i++) {
		if(i<=zTrack) {
			if(!direction) {
				if(zColor[mIndex][i]>0)zColor[mIndex][i]-=STEP;
				if(zColor[mIndex][i]<0)zColor[mIndex][i]=0;
			} else {
				if(zColor[mIndex][i]<255)zColor[mIndex][i]+=STEP;
				if(zColor[mIndex][i]>255)zColor[mIndex][i]=255;
			}
		} else {
			direction?zColor[mIndex][i]=0:zColor[mIndex][i]=255;
		}
		txtColor = hexValues[zColor[mIndex][i]] + '' +  hexValues[zColor[mIndex][i]] + '' +  hexValues[zColor[mIndex][i]];
		mHTML+= "<font color=#" + txtColor + ">" + textString[mIndex].charAt(i) + "</font>";
	}
	if(isFinished()) {
		if(direction) {
			direction=0;
			mIndex++;
			if(mIndex>textString.length-1)mIndex=0;
		} else {
			direction=1;
		}
		zTrack=0;
	}
	zTrack++;
	document.getElementById("mContainer").innerHTML = mHTML;
}

function isFinished() {
	if(!direction)for(i=0;i<zColor[mIndex].length;i++)if(zColor[mIndex][i]!=0)return false;
	if(direction)for(i=0;i<zColor[mIndex].length;i++)if(zColor[mIndex][i]!=255)return false;
	return true;
}


Fading Marquee II v1.0
last revision: 06.12.2003
steve@slayeroffice.com
http://www.slayeroffice.com